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NEWS AS IT HAPPENS:

Facebook Users Pass the 250 Million Mark

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SAN FRANCISCO: Facebook founder Mark Zuckerberg on Wednesday said the number of people using the online social networking service had climbed to 250 million.

On Monday, it was revealed that a Russian Internet company is offering to buy 100 million dollars worth of stock from Facebook employees in a deal that would value the fast-growing social network at 6.5 billion dollars.

US computer software giant Microsoft bought a 1.6 percent stake in Facebook for 240 million dollars in 2007, a deal that valued the company at 15 billion dollars.

Palo Alto, California-based Facebook was founded in 2004 and has become the most popular online social networking service, eclipsing News Corporation-owned MySpace.

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